Costco Wholesale Co. (NASDAQ:COST) Stake Lowered by Paragon Capital Management Ltd

Paragon Capital Management Ltd reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) by 27.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 301 shares of the retailer’s stock after selling 115 shares during the period. Paragon Capital Management Ltd’s holdings in Costco Wholesale were worth $221,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of COST. Richelieu Gestion SA acquired a new position in Costco Wholesale during the 4th quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new position in Costco Wholesale during the 4th quarter worth $26,000. Morton Brown Family Wealth LLC lifted its position in Costco Wholesale by 200.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after acquiring an additional 30 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $30,000. Finally, Vima LLC acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $34,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 1.6 %

COST stock traded down $14.13 during midday trading on Friday, reaching $848.31. The company’s stock had a trading volume of 3,852,859 shares, compared to its average volume of 1,748,766. Costco Wholesale Co. has a 52 week low of $519.34 and a 52 week high of $873.96. The stock has a market cap of $376.08 billion, a PE ratio of 52.56, a price-to-earnings-growth ratio of 5.70 and a beta of 0.79. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The business’s 50-day simple moving average is $788.13 and its 200-day simple moving average is $731.70.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. During the same period last year, the firm earned $3.43 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts expect that Costco Wholesale Co. will post 15.98 EPS for the current year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were issued a $1.16 dividend. The ex-dividend date was Thursday, April 25th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a yield of 0.55%. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Insiders Place Their Bets

In related news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the sale, the executive vice president now directly owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Oppenheimer upped their price objective on shares of Costco Wholesale from $850.00 to $905.00 and gave the company an “outperform” rating in a research report on Thursday, June 6th. Citigroup upped their price objective on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Wells Fargo & Company increased their price target on shares of Costco Wholesale from $750.00 to $775.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Sunday, June 2nd. Finally, Stifel Nicolaus increased their price target on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $752.96.

Check Out Our Latest Research Report on Costco Wholesale

Costco Wholesale Profile

(Free Report)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.

Further Reading

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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